NVIDIA: Cryptocurrencies Are Here To Stay

Jensen Huang

This year has been hard on system builders and PCMR members looking to purchase that upgrade in the GPU department. Due to the increase in demand thanks to cryptocurrencies (specifically Ethereum), it has been near impossible to find any GTX 1070 or 1060 from the green team and any AMD RX 580, 570, 470 or 480 GPUs from the red team. The influx of EBay offers for these cards and their inflated prices have driven normal users to sell high and earn some extra cash while waiting for Vega. With this in mind, all users and system builders have been hoping for a crytocurrency crash that hasn't seemed to happen.

On the heels of this, NVIDIA's very own CEO Jensen shared some information on their position in regards to crytocurrencies and the demand from 2016 into 2017.


Cryptocurrency and blockchain are here to stay. Over time, it will become quite large. It is very clear that new currencies will come to market. It’s clear the GPU is fantastic at cryptography. The GPU is really quite well positioned.

Jensen Huang, NVIDIA CEO


We also got information from NVIDIA's CFO, Colette Kress, who shared similar remarks to Jensen.


Our PC OEM revenue includes GPUs designed for mainstream desktops, notebooks, and cryptocurrency mining.

Colette Kress, NVIDIA CFO


Not only is NVIDIA recognizing this craze as a new market that should be targeted, they also felt it. NVIDIA released their second-quarter earnings with an impressive 56 percent year-over-year growth. The GPU division brought in $1.9 Billion during the second quarter which represents the massive 56 percent uptick we saw in the earnings.


The recent rise in crypto coin prices resulted in increased demand in OEM GPU sales.

Colette Kress, NVIDIA CFO


Given the profts seen and the demand constant, I don't see this changing anytime soon and I wouldn't hesitate on purchasing any new middle range GPU disovered at MSRP or slightly above prices.  Good luck hunting!